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Peace Valley Boat Rental Statistics

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Peace Valley Boat Rental Statistics

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  1. Bill Reilly Dan Park Peace Valley Boat Rental Statistics

  2. Peace Valley Boat Rental • Opens first Saturday of May every year • Closes in mid October • Offers moorings, permits, lessons, programs, and boat rentals including: • Single/double kayaks • Paddleboats • Canoes • Aquafins • Daysailors • Rowboats

  3. Purpose • To see if Saturdays or Sundays are busier during the season • Test the total amount of boats rented out for 30 Saturdays and 30 Sundays • Test the total amount of cash/charge made for the day • Hypothesis: Sundays are busier than Saturdays

  4. Procedure and Data Collection • 60 total summary sheets were collected from the Bucks County Department of Parks and Recreation located at 510 Creek Road, New Britain Township • Summary sheets contain the total amount of boats rented out for a given day and the total amount of money made, cash and charge amounts

  5. Procedure and Data Collection • Dates, total rentals, and total profits for the 30 Saturdays and Sundays were recorded in Fathom • Exploratory Analysis includes histograms, charts, and summaries

  6. Procedure and Data Collection • Tests: • 2 Sample T-Tests • Comparing total average profits between Saturday and Sunday • Comparing average number of boat rentals between Saturday and Sunday • Confidence Intervals for both tests

  7. Data

  8. Data

  9. Exploratory Data AnalysisSaturday Total Profit

  10. Exploratory Data AnalysisSaturday Total Profit • Shape: Somewhat normal • Center:1144.52 • Spread: Gaps, (0, 2779.32) • The Peace Valley Park Boat Rentals has a profit range of $0 to $2779.32 on Saturdays • The Peace Valley Park Boat Rentals makes an average profit of $1144.52 on every Saturdays

  11. Exploratory Data AnalysisSaturday Total Boat Rentals

  12. Exploratory Data AnalysisSaturday Total Boat Rentals • Shape: Right Skew • Center:83.9 • Spread: (0, 58.234) Gaps • The Peace Valley Park Boat Rentals has a boat rental range from 0 to 58 boats on Saturdays • The Peace Valley Park Boat Rentals rents 84 boats on average on Saturdays

  13. Exploratory Data AnalysisSunday Total Profit

  14. Exploratory Data AnalysisSundayTotalProfit • Shape: Approximately normal • Center:1243.73 • Spread: Gaps, (0, 3034.78) • The Peace Valley Park Boat Rentals has a profit range of $0 to $3034.74 on Sundays. • The Peace Valley Park Boat Rentals makes an average profit of $1243.73 on every Sundays

  15. Exploratory Data AnalysisSunday Total Boat Rentals

  16. Exploratory Data AnalysisSunday Total Boat Rentals • Shape: Slight Right Skew or Approximately Normal • Center:91.6 • Spread: (0, 67.657) Gaps • The Peace Valley Park Boat Rentals has a boat rental range from 0 to 68boats on Sundays • The Peace Valley Park Boat Rentals rents 92 boats on average on Sundays

  17. Assumptions for 2 Sample T-Test and Confidence Intervals • Assumption • SRS • 2 Independent Normal Population or n1 and n2 is greater or equal to 30 • Check • The data was randomized by a software(Calculator) • n1 and n2 is equal to 30

  18. 2 Sample T-Test #1 • Comparing average profit made between Saturday and Sunday • Hypothesis • Ho • Ha

  19. 2 Sample T-Test #1 • t = = -0.3979 • P(t<-0.3979|df=56) = 0.3461

  20. 2 Sample T-Test #1 • Conclusions • We fail to reject Ho because P-value is greater than • We have sufficient evidence that the average total cash made on Saturday is equal to the average total cash made on Sunday

  21. 2 Sample T-Confidence Interval #1 • (-544.5, 364.06) • We are 95% confident that the difference of average total cash made on Saturday and Sunday is between -544.50 and 364.06 dollars. • The interval contains 0. Therefore, the test is correct that it shows that there is no difference between Saturday and Sunday.

  22. 2 Sample T-Test #2 • Comparing the average total boats rented between Saturday and Sunday • Hypothesis • Ho • Ha

  23. 2 Sample T-Test #2 • t = = -0.4725 • P(t<-0.4725|df=56) = 0.3192

  24. 2 Sample T-Test #2 • Conclusions • We fail to reject Ho because P-value is greater than • We have sufficient evidence that the average total boat rentals made on Saturday is equal to the average total boats rented on Sunday

  25. 2 Sample T-Confidence Interval #2 • (-40.34, 24,94) • We are 95% confident that the difference of average total boat rentals made on Saturday and Sunday is between -40.34 and 24.94 Boats. • The interval contains 0. Therefore, the test is correct that it shows that there is no difference between Saturday and Sunday.

  26. Application • Peace Valley Park Boat Rentals make the same average amount of profit on Saturday and Sunday • Peace Valley Park Boat Rentals rent out the same amount of average boats on Saturday and Sunday.

  27. Bias/Errors • Incomplete or inaccurate records • Weather not taken into consideration • Considerably less people rent boats when the weather is bad • Not completely random • Not all records available • Does not only rent boats • It sells boat permits and moorings

  28. Personal Opinions/Conclusions • I thought the project was overall hard and tedious • It was very surprising to find out that the average profits and the average total boats rented out on Saturday and Sunday were the same. We thought Sunday would be busier • I think more time would have been better, especially for our topic because there were a lot of papers that we had to go through • Overall the project was a good learning experience about the Peace Valley Park Boat Renting Place and its business